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EUROPE
GERMANY
FDP leader sees approval
rating tumble after ditching talk * Main opposition party signaled its ready to
let Merkel govern
So what’s going to
happen next in Germany? It’s worth taking a look at the mechanics of how
Germany elects a Chancellor.
Coalition hopefuls were
united to cut 7GW of coal-fired power * Industry signals tacit approval of
plans to close some plants
Merkel’s support for new
finance facility ‘was on the way’ * Chancellor’s leaning toward Greens was
‘part of the struggle’
Is Germany heading for another ‘Grand
Coalition’? – Open
Europe
As the Social Democrats
are opening up to coalition talks with Angela Merkel's conservative union of
CDU and CSU, Open Europe's Leopold Traugott assesses the likelihood and
intricacies of a possible agreement.
UNITED STATES
Concerns over business
income and deficit effects top agenda * Senate leaders plan to hold a floor
vote as early as Thursday
Senate Faces Thursday Vote Showdown In
"Most Critical Week" For Tax Reform – ZH
MARKETS / OTHER
Why Deutsche Thinks 2017 "Was The Most Boring Year Ever" – ZH
2017 will be the least volatile year ever for the vast majority of asset classes
Index Providers Rule the
World—For Now, at Least – BB
Decisions about what to include are leaving some on the outs
A ‘Completely Flat’
Yield Curve and Record-Low Yields Lies Ahead in 2018 – BB
Morgan Stanley On
Credit: "A Cycle Turn Is Closer Than Many Believe" – ZH
Japanese Media Signals
North Korea "Preparing Ballistic Missile Launch" – ZH
Short Selling Costs and
Restrictions and Profitability of Anomalies – Quantpedia
Short selling frictions cannot explain the persistence of seven prominent
stock anomalies. Long-only investing is robust and profitable and can be
further enhanced by using a synthetic short. Moreover, portfolios restricted to
stocks that are easy to short sell continue to have large and significant short
anomaly alphas. I derive cost bounds for switching between implementation
methods and show that the cost associated with short anomaly positions is small
relative to their profitability contribution using a proprietary database of
borrowing fees. Overall, the empirical evidence does not support the
implications of arbitrage asymmetry that mispricing is concentrated in short
positions where it is too costly to exploit.
REGULARS
FirstFT Daily Briefing – FT
Meredith buys Time Inc, Big Pharma backs May, Casablanca 75 years on
WSJ City – WSJ
The EU’s Threat from Without, Bitcoin in Buying Frenzy, Is OPEC Doing Too
Much?
“Best of the web” daily
charts – Lukas Daalder
Danske Daily – Danske Bank
Eye-Opener – Nordea
EUR is the king of FX again, focus on Powell and Yellen this week * Credit
growth data from Sweden * Super IFO makes EUR rally * Slightly higher bund
yields ahead of quiet week
Daily Market Comment – Marc Chandler
Slow Start to Busy Week
Brussels Playbook – Politico
Double Irish crisis — Outside Bruges — China’s new great wall
Five Things You Need to
Know to Start Your Day – BB
US Open – ZH
Stocks Whipsawed As Europe, US Futures Rebound From China Selloff; Dollar
Slides
Frontrunning – ZH
FINNISH
Aamukatsaus
– Nordea
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